Both of these were hard to cope with for families because of the lose of jobs. The difference between the two is the Great Depression is when the economy hits rock bottom while the Great Recession is the slowing down of the economy. When an economy is experiencing high unemployment rates for more than two years, the economy is considered to be in a depression. The unemployment rates for the Great Depression were much higher than the Great Recession; 25% to 8.5%. All in all, the Great Depression was much more severe than the Great Recession but they are both something that will never be
Both of these were hard to cope with for families because of the lose of jobs. The difference between the two is the Great Depression is when the economy hits rock bottom while the Great Recession is the slowing down of the economy. When an economy is experiencing high unemployment rates for more than two years, the economy is considered to be in a depression. The unemployment rates for the Great Depression were much higher than the Great Recession; 25% to 8.5%. All in all, the Great Depression was much more severe than the Great Recession but they are both something that will never be